Market Overview

The global converted flexible packaging market is growing at a rapid pace. The market growth attributes to the spurring rise in the food and beverage industry worldwide. Besides, the high demand for ready-to-eat and on-the-go foods and drinks substantiates the market growth. Increase in disposable income and population growth in countries such as China, India, and Brazil, has led to increasing the demand for good quality food.

Moreover, rising uses of converted flexible packaging for dairy products, sauce, and others escalate the market demand. According to Market Research Future (MRFR), the global converted flexible packaging market is projected to grow at approximately 5.31% CAGR during the estimated period (2017-2023). COVID-19 has impacted consumers' grocery shopping habits, creating opportunities for manufacturers, retailers, and consumers.

Additionally, the inconvenience of rigid packaging solutions for packaging different shapes and sizes of fresh food products and bakery products boosts the market growth. Also, the rising population and improving economic conditions that increase consumer purchasing power substantiate market growth. Growing applications of converted flexible packaging solutions across the burgeoning food & beverage sector contribute to the overall market growth.

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Global Converted Flexible Packaging Market – Segments

The report is segmented into four dynamics;

By Material: Plastic, Paper, Aluminum Foil, and others.

By Product: Pouches, Bags, and others.

By Application: Food & Beverages, Pharmaceuticals, Consumer Goods, and others.

By Regions: Europe, APAC, Americas, and the Rest-of-the-World.

Converted Flexible Packaging Market – Geographical Analysis

The Asia Pacific region dominates the global converted flexible packaging market. The region accounted for 32.45% market share in 2016, with a market value of USD 23,876.7 MN. The market growth attributes to the extraordinary growth in the packaging sector in the APAC region. Besides, growing numbers of supermarkets and the high demand for multipacks of various grocery products in the region boost the demand for converted flexible packaging products.

China, Japan, India, and Thailand are the key contributor to the regional market's growth. China holds a significant market share in the region, mainly due to fast urbanization and industrial development. The emergence of cost-effective, eco-friendly packaging solutions manufactured from recycled material and advanced manufacturing techniques substantiate the regional market growth. The APAC converted flexible packaging market is expected to retain its dominance growing at 5.62% CAGR during the forecast period.

North America stands second in the global converted flexible packaging market. The market is driven by the rapid growth in the retail industry and food markets in the region. Additionally, the rising demand for food beverages, fresh produce, and the higher disposable income of demographics substantiate the regional market's growth. The U.S. market has a positive impact on the growth of the regional market, accounting for the major market share.

The presence of major converted flexible packaging manufacturers such as Sealed Air Corporation (U.S.), Sonoco Products Company (U.S.), and Bemis Company Inc. increases the size of the regional market. The North American food market is estimated to grow at a significant CAGR during the review period.

Europe is a notable market for converted flexible packaging solutions globally. Factors such as the changing lifestyles and increasing trend of nuclear families alongside the increasing demand for smaller food beverage packaging fosters converted flexible packaging market growth. Furthermore, the burgeoning e-grocery industry and food beverage sector, increasing cross-border trade and rising online food ordering sector fuel the market demand in the region.

Global Converted Flexible Packaging Market – Competitive Analysis

Fiercely competitive, the converted flexible packaging market appears fragmented due to the presence of several well-established players. To gain a significantly larger competitive share, key players incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product/technology launch.

Major Players:

Players leading the global converted flexible packaging market are Amcor Limited (Australia), Bemis Company Inc. (U.S.), Sealed Air Corporation (U.S.), Constantia Flexibles Group GmbH (Austria), Sonoco Products Company (U.S.), Graphics Packaging Holding Company (U.S.), Honeywell International Incorporated (U.S.), Bischof + Klein SE & Co. K.G. (Germany), Oracle Packaging Inc. (U.S.), and Ampac Packaging LLC (U.S.), among others.

Industry/ Innovation /Related News:

November 30, 2020 ---- Everfresh Packaging Inc. (the U.S.), a leading flexible packaging supplier of high-quality, innovative products, launched a new website designed for the food industry. The new website reflects the company profile and its continuous innovation, young spirit, and vast experience. The mobile compatible site has a revamped look with an intuitive user interface that makes it easier for visitors to search for information and navigate inventory while providing important educational resources and news updates.

Everfresh packaging offers the finest converted packaging materials and innovative solutions & superior customer service, leveraging its global network of supply chains to mitigate the risk of supply shortages or other challenges. "Customer experience" is the company's top priority, aiming to be responsive to all their packaging needs.

That's why, along with top-quality packaging products from an extensive range of global suppliers, Everfresh Packaging offers a basket of complementary services that ensure seamless sourcing, and including customized supply programs for just-in-time delivery. With this new website, its customers can enjoy a convenient, intuitive, and comprehensive online experience.

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